Monday, October 22, 2012

Innovation and Group Intelligence


Innovation is the only insurance against irrelevance and collective intelligence, is the ability of a team to solve problems.

Collective intelligence is measurable and correlates more with the social abilities of the team members than with the team's aggregate individual IQ.

In most instances innovative success is owed more to the spirit of a lone innovator rather than to the obliging climate of a management model.

The idea is to merge the energy of a lone innovator with the collective intelligence of a group in order to create an unstoppable innovative force that generates new revenue streams, think of social media like Facebook, Apple in music and Amazon in cloud services.

For the Enterpreneur:
The building blocks of a great network aren't purpose-driven meetings — they're casual encounters, agenda-less coffee catch-ups, and even favors for people who don't seem to be in any position to help you right now. Build your network that way, and when you present your acquaintances with a problem the group intelligence begins to crystalize

When talking about your goals for the business, be honest. A little candor, a little vulnerability, goes a long way in turning a conversation from trite to meaningful.

Ninety-seven times out of a hundred, the conversation continued as normal, with a reciprocal introduction or update and additional exchanging of information and small talk.

But there is a magical 3% whose response changes the innovative landscape and that is all you need

For the Business:
Ultimately, every management process must be a catalyst for innovation.

The planning process needs to put a premium on game-changing ideas.

The budgeting system needs to give innovators quick access to experimental capital.

IT systems need to support idea sharing.

Performance management systems need to track innovation performance at every level.

Training and development programs need to bolster innovation skills.

Market research and customer insight efforts needs to be indept.

The compensation process has to reward those who take smart risks

The criteria for hiring and promotion needs to give weight to creativity and innovative leadership.

Teams and networks also have vulnerabilities — such as increased costs of collaboration, invisible delays, conflicts with formal work processes, and the effects on individual workers with different learning and communications styles. Addressing these vulnerabilities means understanding more about how we strengthen our collective intelligence and innovative force.

For Instance, we have a challenge; How can we get more advertising Revenue?

Special thanks to Steven Rice and Kathryn Minshew

See You at the Top